When a property owner decides to convert a single-family home into a multifamily home without obtaining the necessary permissions from the local building authority, it can lead to complications down the line. In such cases, the property will have to be inspected and potentially rezoned, which can be a time-consuming process. It’s important to note that converting a property without the appropriate permissions not only poses legal issues but could also result in safety concerns for the occupants. Therefore, it’s crucial for the seller to seek proper approval before making any significant changes to their property. It may seem like a small inconvenience initially, but getting the necessary permissions can save time, money, and prevent unnecessary stress in the future.
The maximum number of units that can be financed with a VA home loan is 4. This includes the unit occupied by the Veteran. So if you’re considering purchasing a property with more than four units, you may need to explore other financing options such as a commercial loan.
The Veteran is required to occupy at least one unit as their primary principle residence.
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